International Assets Investment Management LLC Purchases 185,702 Shares of Otter Tail Co. (NASDAQ:OTTR)

International Assets Investment Management LLC raised its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 8,231.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,958 shares of the utilities provider’s stock after acquiring an additional 185,702 shares during the quarter. International Assets Investment Management LLC’s holdings in Otter Tail were worth $15,971,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Otter Tail during the 3rd quarter valued at approximately $58,000. Blue Trust Inc. raised its position in shares of Otter Tail by 53.9% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $88,000 after buying an additional 362 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Otter Tail in the fourth quarter worth $130,000. Milestone Investment Advisors LLC bought a new position in shares of Otter Tail during the third quarter worth $152,000. Finally, CI Investments Inc. purchased a new position in Otter Tail during the third quarter valued at $158,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of NASDAQ OTTR opened at $87.82 on Friday. The firm’s fifty day moving average is $84.67 and its two-hundred day moving average is $83.20. Otter Tail Co. has a 52-week low of $68.96 and a 52-week high of $99.49. The company has a market cap of $3.66 billion, a P/E ratio of 12.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.84.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The company had revenue of $314.31 million for the quarter, compared to the consensus estimate of $300.60 million. Otter Tail had a return on equity of 21.64% and a net margin of 21.81%. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, analysts anticipate that Otter Tail Co. will post 5.28 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were issued a $0.468 dividend. The ex-dividend date was Wednesday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.44. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.13%. Otter Tail’s dividend payout ratio (DPR) is 26.71%.

Otter Tail Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.